Consumers in financial difficulty

Are you unable to meet your repayments under a credit facility, such as a credit card, personal loan or business loan?

Clause 28 of the Code of Banking Practice states that a bank must try to help customers – with their agreement and cooperation – to overcome financial difficulties they may have with a credit facility they hold with that bank.

Talk to your bank first

If you are finding it difficult to meet your repayments, contact your bank as soon as possible to discuss your situation and the options available to you.

Financial counselling and legal support

Financial counsellors can assess your situation and identity options to address your financial problems. Government-funded financial counselling services are free and confidential. If your money and debt problems have developed into legal problems, you can also access a range of services that provide free legal advice – see below for contact details.

Report a concern

Useful resources

Financial counsellors

FCA’s website contains a service locator for organisations in each State or Territory that provides financial counselling.Freecall 1800 007 007 (available 9:30am to 4pm, Monday to Friday). You will be automatically transferred to the phone service in your state.

Money tools, financial information and support

Published by the Australian Bankers’ Association, this website directs you to ‘hardship websites’ for each institution, and features financial health checklists testing whether you are at risk of loan default.